mercatorism means The tendency of transnational commerce to operate outside any system of national laws, making use, instead, of a system of arbitration. Lexicurio rates it Sui generis — a strength score of 88 out of 100.
Why this word is great
MERCATORISM — [Noun] The tendency of transnational commerce to operate outside any system of national laws, making use, instead, of a system of arbitration. From Latin mercator ("merchant, trader") + -ism (denoting a system or principle). Unlike "globalism" (which speaks of interdependence) or "protectionism" (which seeks to shield domestic markets), mercatorism is commerce slipping the leash of sovereignty entirely. It is the hushed negotiation in a Zurich boardroom, the unflagged cargo ship drifting between jurisdictions, and the fine print of a contract that supersedes the constitution of any nation-state—capital untethered, flowing where it is least impeded, indifferent to the borders it erodes. The world’s laws were written for nations, but the money has already moved on.
noun
- The tendency of transnational commerce to operate outside any system of national laws, making use, instead, of a system of arbitration.“It seems to me that if they do look for uniformity they are sadly deluded; and they are likely to be the more deluded, the more that theories of transnationalism and mercatorism take hold, and the more common it becomes for parties to choose amiable composition as a basis for resolving "their disputes...”